Global startup funding hit $59 billion in October, up 45% on a year earlier, Crunchbase says
DeepSeek's $15.9 billion round at a $90 billion valuation was the largest Chinese venture deal on record, and seven billion-dollar rounds made up more than 40% of the month's total.
Why it matters
The numbers show AI money is no longer concentrated only in the United States. Crunchbase counts $28 billion for US startups and $20.6 billion for Chinese ones in October, a much narrower gap than in most recent months, driven largely by DeepSeek's single round. The concentration in a handful of very large AI deals also means monthly totals swing with a few companies. Watch whether November keeps China's share high without another round of DeepSeek's size.
Key facts
- October global total: $59 billion
- Year-on-year: +45%
- US: $28 billion; China: $20.6 billion
- DeepSeek: $15.9 billion at $90 billion valuation
- Seven billion-dollar rounds: over 40% of total